ProMIS Neurosciences, Inc. announced that it has entered into securities purchase agreement to issue an aggregate of approximately $20.4 million of common share units at a price of $1.88 per unit consisting of one common share and one warrant and pre-funded units at a price of $1.87 per unit consisting of one pre-funded warrant on August 21, 2023. The transaction will include participation from new investors such as Affinity Asset Advisors, LLC, Ally Bridge Group, Sphera Healthcare US Inc. and other institutional and individual accredited investors. Certain directors and officers of the company are subscribing for up to approximately $145,000 of common share units.

The transaction is expected to close on August 23, 2023 subject to customary closing conditions.